Moody's ups Korea Electric units

Moody's Investors Service said it upgraded the local currency issuer rating to A1 from A3 and foreign currency bond rating to A2 from A3 for the following generation subsidiaries of Korea Electric Power Corp.: Korea East-West Power Co. Ltd., Korea Midland Power Co. Ltd. and Korea South-East Power Co. Ltd.

The outlook is stable.

The agency also upgraded Korea Hydro & Nuclear Power Co. Ltd.'s local currency issuer rating to A1 from A2 and foreign currency bond rating to A2 from A3, and assigned Korea Southern Power Co. Ltd.'s local currency issuer A1 and upgraded the foreign currency bond rating to A2 from A3.

Downward rating pressure may evolve if there is an adverse change in the regulatory environment and further liberalization of the wholesale power market, the agency said.

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